NZD/USD exhibits a strong bullish trend supported by an ascending trend line. The 1st support at 0.6246 (overlap support and 50% Fibonacci retracement) and the 2nd support at 0.6109 (overlap support and 78.6% Fibonacci retracement) act as potential floors if a retracement occurs. Resistance levels include 0.6305 (overlap resistance and 38.2% Fibonacci retracement) and 0.6403 (swing high resistance), which could impede further upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
NZD/USD exhibits a strong bullish trend supported by an ascending trend line. The 1st support at 0.6246 (overlap support and 50% Fibonacci retracement) and the 2nd support at 0.6109 (overlap support and 78.6% Fibonacci retracement) act as potential floors if a retracement occurs. Resistance levels include 0.6305 (overlap resistance and 38.2% Fibonacci retracement) and 0.6403 (swing high resistance), which could impede further upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
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